Posts belonging to Category currencies



Bitcoin Futures Launch Sees Price Spike

CBOE Website Crashes

The Chicago Board Options Exchange (CBOE)’s website became unavailable just as it launched its first bitcoin futures contracts at 6 p.m. EST on Sunday.

The website downtime – which CBOE attributed to significant traffic around the futures launch in a post on Twitter – coincided with a sudden surge in the price of bitcoin, which jumped from $14,509 at 22:59 UTC to $15,732 at 23:06 UTC according to CoinDesk’s Bitcoin Price Index (BPI). Yet as of press time, CBOE’s website is becoming more available – delayed information about the contracts being offered can be found here – and the price of bitcoin has maintained a somewhat steady pace since that initial jump, trading at $15,226.29 per the BPI.

The data coming in thus far suggest that buyers are indeed moving to purchase contracts. Activity has been largely centered around the first contract to expire, dated January 17, 2018, with social media posts pointing to purchases of contracts scheduled to expire on March 14. According to CNBC, 672 January contracts have been sold as of 7:10 pm EST, with the news service reporting a price of $15,800.

http://www.coindesk.com… Mon., 11  December 2017

Bitcoin Rockets Above $12,000

Billion-Dollar Crypto Unicorns Swell to Nineteen

The cryptocurrency markets made another advance on Tuesday, fueled by continued bullishness over the impending launch of regulated bitcoin futures contracts on Sunday. Buoyed by this factor, the bitcoin price rose within striking distance of the $12,000 milestone, and the flagship cryptocurrency’s market cap came within a hair’s breadth of the $200 billion marker. Meanwhile, altcoins reaped the gains of a bullish market, and the number of cryptocurrencies with billion-dollar valuations swelled to a new all-time high of nineteen.
http://www.cryptocoinsnews.com… Wed., 06  December 2017

What is the future of Money?

Bitcoin, Dollars or Gold?

Type “Bitcoin is a Bubble” into Google and you’ll get 31,800,000 results, a clear indication of how many times people have, incorrectly so far, called a top in the price of the worlds most famous cryptocurrency. We’ve been studying it for years and have summarised our thoughts in a detailed report; “Bitcoin, Dollars, Gold: What is the Future of Money”

We see numerous potential tailwinds for Bitcoin, and for blockchain especially. Capital is flowing into the sector, millennials love it, and we also think governments and commercial banks are supportive of digital currency, as they have a general disdain for physical cash. Blockchain’s potential to disrupt multiple industries is also another tailwind. For those who want further evidence of its potential, we suggest reading “Banking is only the Beginning: 30 Big Industries Blockchain Could Transform”.

Finally, for as long as central banks the world over engage in the monetary largesse we’ve become accustomed to in the “post” GFC environment, more and more people will look for alternative monetary solutions.

http://www.livewiredmarkets.com… Mon., 04  December 2017

The Fed has no plans for its own cryptocurrency — at least for now

Fed is paying attention to research on blockchain

The Federal Reserve isn’t planning on launching its own digital currency — at least for now. While speaking at an event at Arizona State University on Wednesday, the president of the Federal Reserve Bank of San Francisco, John Williams, said the Fed is not working on its own digital currency, according to Reuters reporting.

But the Fed is paying attention to research on blockchain, the technology underpinning bitcoin, the news wire said.

http://www.businessinsider.com

London: new cryptocurrency card to pay in local supermarkets

You can withdraw money with your Visa debit “Dragoncard”

A London-startup headed by a Credit Suisse veteran is launching a new debit card that it claims will allow people to spend cryptocurrencies across the UK. The London Block Exchange (LBX) launched on Tuesday. It plans to launch a sterling-to-cryptocurrency exchange and a Visa debit card, dubbed “Dragoncard,” that will allow people to spend bitcoin, ethereum, ripple, litecoin and monero across the UK. The startup plans to add more cryptocurrencies in future.

The Visa card, which will be issued by Gibraltar-based pre-paid card provider Wavecrest, will be linked to an app that allows users to buy and hold cryptocurrencies through the LBX exchange. Customers will also be able to withdraw money using the card. Cryptocurrencies will be converted to sterling at the time of withdrawal.

http://www.prnewswire.co.uk…  Wed., 15  November 2017

Bitcoin’s Daily Trade Volume Surpasses $5B

After the Canceled Fork Announcement Bitcoin Trade Volume Spikes Exponentially

Action across bitcoin markets have been all over the place. For instance, on Tuesday, November 7, the price dipped below the $7K zone and rebounded back above that territory a few hours later. The very next day on November 8, immediately following the announcement that Segwit2x was canceled, bitcoin’s market value spiked to a high of $7,900 per BTC. The peak didn’t last long, and the price per bitcoin has been hovering between $7,100-7,450 over the course of the past 12-hours. The last few days bitcoin has been trading over $3B a day in 24-hour trade volume, but on November 9 the decentralized currency swapped over $5B in BTC trades. Presently, bitcoin’s value is trading at $7,150-7,210 across a variety of global exchanges.

http://www.bitcoin.com…  Tue., 14  November 2017

Nouriel Roubini warns about bitcoin craze

Bitcoin, a “gigantic speculative bubble”

Nouriel Roubini, who gained fame after predicting the 2008 financial crisis, is living up to his Dr. Doom nickname when it comes to cryptocurrencies.

Bitcoin, he said in conversation with Business Insider Poland, will be regulated to the extent that it will “find its end.” In the wide-ranging interview, which covered everything from the prospects of another financial crisis to the fallout from Brexit, Roubini struck a generally upbeat tone.

http://www.businessinsider.com…  Wed.,  08  November 2017

What is Bitcoin Mining?

Compiling recent transactions into blocks

If you’ve ever wondered where Bitcoin comes from and how it goes into circulation, the answer is that it gets “mined” into existence. Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards incentivize mining and include both the transaction fees (paid to the miner in the form of Bitcoin) as well as the newly released Bitcoin.

http://www.investopedia.com…  Mon.,  06  November 2017

Britain's economy is already weaker because of Brexit

Business investment is being affected by uncertainties

The Bank of England didn’t mince words today on the effect of Brexit on the British economy. “Brexit-related constraints on investment and labour supply appeared to have been reinforcing the marked slowdown,” the central bank wrote in its inflation report.

The BOE added that while Britain was being held back by Brexit, the rest of the world was heading into a period of strong growth. “Uncertainties associated with Brexit were weighing on domestic activity, which had slowed even as global growth had risen significantly,” the bank said.

http://www.msn.com…  Fri.,  03  November 2017

"Brexit is stupidest thing any country has done"

Michael Bloomberg says it is ‘hard to understand why a country doing so well wanted to ruin it’

Michael Bloomberg, the billionaire media mogul and former mayor of New York, has said Brexit is the “single stupidest thing any country has ever done” apart from the election of Donald Trump as US president.

Bloomberg argued that “it is really hard to understand why a country that was doing so well wanted to ruin it” with the Brexit vote, in a series of outspoken remarks made at a technology conference in Boston a fortnight ago.

At that event, Bloomberg, 75, also warned that some workers at the financial media company that bears his name were asking to leave the UK and US because they think the two countries no longer like immigrants and are no longer welcoming.

http://www.theguardian.com…  Wed  25  October 2017